Nexo’s Earn Interest Products include ApeCoin (APE).

Regulated digital assets institution Nexo has listed the Ape Coin [APE] in its platform for exchange and utility. Additionally, Nexo’s Earn Interest feature allows you to earn returns on your holdings.

APE is available on Nexo for exchange, buying, top-up, and borrowing.

Recently, the APE has been listed among the Nexo Earn Interest Products, allowing APE holders to gain up to 12% interest on their holdings.

With this integration, Nexo has become the first Yield-Earning Platform for the APE holders.

About Nexo and Assets Protection

As the website states, Nexo offers instant crypto loans, daily earnings on assets, and exchange opportunities to its registered and verified members.

It is the only Blockchain company to provide services in 40+ fiat currencies and more than 200 jurisdictions.

The digital asset holders get instant access to cash and high-yielding interest on their idle assets. It is qualified and audited by Armanino and Goldman Sachs-backed Bitgo.

The digital assets are stored and protected in individually assigned multi-signature custodial wallets in cold storage ledger vaults as in military-grade Class III.

Nexo has $375,000,000 insurance on the custodial assets.

The Nexo Schemes for APE

The initial promotional offer of 12% interest on APE started at 16:00 UTC on March 29, 2022, and will end at 23:59 UTC on April 2022. 

Following this period, APE holders will get interest at conventional rates determined by their loyalty tiers, plans chosen, and whether they want their interest paid in Nexo Tokens or other currency.

Receiving interest in Nexo Tokens will yield higher profits. Two existing plans exist Fixed-Term and flexible-term.

The fixed-term allows holders to lock their holdings for a period of 1 or 3 months, which can be extended up to 10 times after the contract ends.

The Flex term allows the holders to liquidate or withdraw their holdings anytime they wish. The Fixed-Term provides higher interest rates than the Flex scheme.

The yield earnings for the different loyalty tiers are as follows:

Platinum: Maximum rate – 12%. Standard rate – 9%.

Gold:  Maximum rate – 10%. Standard rate – 8%.

Silver: Maximum rate –  9%. Standard rate – 7.5%.

Base:  Maximum rate –  8%. Standard rate – 7%.

Apart from the above, Nexo provides some extra beneficial features to the APE holders on its platform.

For buying APE, there’s 0.5% cashback on each transaction [the Platinum members receive the max]

6 pairs of swap are available: APE/BTC, APE/USDT, APE/USDC, APE/USDx, APE/EURx, APE/GBPx

Borrowing against APE at rates as low as 0% APR

Boost leverage and buy 3x more APE.

Borrowing against the Bored Ape Yacht Club NFTs

The creators of the APE are also the creators of the famous Bored Ape Yacht Club NFTs.

The big name behind this successful Ape community is the Yuga Labs LLC which created the Bored Ape Yacht Club, Mutant Ape Yacht Club, and the Bored Ape Kennel Club NFTs.

It brought in more than 145,000% returns to the initial acquirers; Yuga Labs also acquired the CryptoPunks and MeeBits NFTs.

Nexo allows up to 20% loan against these Bored Ape or CryptoPunk NFTs if the price of the NFT exceeds the value of $500,000.

Pop Star Madonna recently bought a Bored Ape NFT for over $571,000, which proves that Yuga Lab’s NFTs are some of the best in the NFT markets.

Farsight

As Yuga Labs grows enormously with the NFTs and the Ape Coin, it is about to begin an interoperable GameFi Metaverse called the MetaRGP, where the native currency will be the Ape Coin.

Nexo also got involved with these famous names as the crypto exchanges like Coinbase, Binance, Gemini, Huobi, and Kraken.

A major factor for this is the demand and popularity of the Ape NFTs and the Ape Coin among Venture Capitalists, celebrities, and crypto enthusiasts.